Federal Register / Vol. 75, No. 85 / Tuesday, May 4, 2010 / Notices 23833 

15 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release Nos. 58985 

(November 10 [sic], 2008), 73 FR 72538 (November 

28, 2008) (approving SR–ISE–2008–86); 58204 (July 

22, 2008), 73 FR 43807 (July 28, 2008) (approving 

SR–CBOE–2008–64); 58203 (July 22, 2008), 73 FR 

43812 (July 28, 2008) (approving SR–NYSEArca2008–57). 

4OCC previously received Commission approval 

to clear options based on Index-Linked Securities. 

See Securities Exchange Act Release No. 60872 

(October 23, 2009), 74 FR 55878 (October 29, 2009) 

(SR–OCC–2009–14). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.15

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2010–10301 Filed 5–3–10; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–61959; File No. SR–ISE– 

2010–33] 

Self-Regulatory Organizations; 

International Securities Exchange, 

LLC; Notice of Filing and Immediate 

Effectiveness of Proposed Rule 

Change To Establish Strike Price 

Intervals and Trading Hours for 

Options on Index-Linked Securities 

April 22, 2010. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’),1 and Rule 19b–4 thereunder,2

notice is hereby given that on April 16, 

2010, the International Securities 

Exchange, LLC (the ‘‘Exchange’’ or the 

‘‘ISE’’) filed with the Securities and 

Exchange Commission (‘‘Commission’’) 

the proposed rule change as described 

in Items I, II, and III below, which items 

have been prepared by the selfregulatory organization. The 

Commission is publishing this notice to 

solicit comments on the proposed rule 

change from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to establish 

strike price intervals and trading hours 

for options on index-linked securities. 

The text of the proposed rule change is 

as follows (deletions are in [brackets]; 

additions are in italics): 

* * * 

Rule 504. Series of Options Contracts 

Open for Trading 

(a)–(h) No change. 

Supplementary Material to Rule 504 

.01–.05 No change. 

.06 Notwithstanding Supplementary 

Material .01 above, the interval between 

strike prices of series of options on 

Index-Linked Securities, as defined in 

Rule 502(k)(1), will be $1 or greater 

when the strike price is $200 or less and 

$5 or greater when the strike price is 

greater than $200. 

* * * 

Rule 700. Days and Hours of Business 

No change. 

(a)–(c) No change. 

(d) Options on Index-Linked 

Securities, as defined in Rule 502(k)(1), 

may be traded on the Exchange until 

4:15 p.m. each business day. 

[(d)](e) The Exchange shall not be 

open for business on the following 

holidays: New Year’s Day, Martin 

Luther King, Jr. Day, Presidents’ Day, 

Good Friday, Memorial Day, 

Independence Day, Labor Day, 

Thanksgiving Day or Christmas Day. 

When any holiday observed by the 

Exchange falls on a Saturday, the 

Exchange will not be open for business 

on the preceding Friday. When any 

holiday observed by the Exchange falls 

on a Sunday, the Exchange will not be 

open for business on the following 

Monday, unless unusual business 

conditions exist at the time. 

* * * 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

self-regulatory organization included 

statements concerning the purpose of 

and basis for the proposed rule change 

and discussed any comments it received 

on the proposed rule change. The text 

of those statements may be examined at 

the places specified in Item IV below. 

The Exchange has prepared summaries, 

set forth in sections A, B, and C below, 

of the most significant parts of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

Prior to the commencement of trading 

options on Index-Linked Securities, the 

Exchange is proposing to establish strike 

price intervals and trading hours for 

these new products. 

The Securities and Exchange 

Commission (the ‘‘Commission’’) has 

approved ISE’s and other option 

exchanges’ proposals to enable the 

listing and trading of options on IndexLinked Securities.3 Options trading has 

not commenced to date and is 

contingent upon the Commission’s 

approval of The Options Clearing 

Corporation’s (‘‘OCC’’) proposed 

supplement to the Options Disclosure 

Document (‘‘ODD’’) that will provide 

disclosure regarding options on IndexLinked Securities.4

$1 Strikes for Options on Index-Linked 

Securities 

Prior to the commencement of trading 

options on Index-Linked Securities, the 

Exchange is proposing to establish that 

strike price intervals of $1 will be 

permitted where the strike price is less 

than $200. Where the strike price is 

greater than $200, $5 strikes will be 

permitted. These proposed changes are 

reflected by the proposed addition of 

new .06 of the Supplementary Material 

to Rule 504. 

Without discounting the differences 

between exchange-traded funds (‘‘ETFs’’) 

and Index-Linked Securities, the 

Exchange seeks to extend the trading 

conventions applicable to options on 

ETFs to options on Index-Linked 

Securities. ISE contends that the 

proposed strike price intervals for 

options on Index-Linked Securities are 

consistent with the strike price intervals 

currently permitted for options on ETFs. 

The Exchange believes that $1 strike 

price intervals for options on IndexLinked Securities will provide investors 

with greater flexibility by allowed [sic] 

them to establish positions that are 

better tailored to meet their investment 

objectives. ISE has analyzed its capacity 

and represents that it and the Options 

Price Reporting Authority have the 

necessary systems capacity to handle 

the additional traffic associated with the 

listing and trading of an expanded 

number of series as proposed by this 

filing. 

Trading Hours for Options on IndexLinked Securities 

Similar to the trading hours for ETF 

options, the Exchange proposes to 

amend Rule 700 by renumbering the 

current subparagraph (d) to (e) and 

adding a new subparagraph (d) to 

provide that options on Index-Linked 

Securities, as defined under .06 of the 

Supplementary Material to Rule 504, 

may be traded on the Exchange until 

4:15 p.m. each business day. 

2. Statutory Basis 

The basis under the Securities 

Exchange Act of 1934 (the ‘‘Act’’) for this 

proposed rule change is the requirement 

under Section 6(b)(5) that an exchange 

have rules that are designed to promote 

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23834 Federal Register / Vol. 75, No. 85 / Tuesday, May 4, 2010 / Notices 

5 15 U.S.C. 78s(b)(3)(A). 

6 17 CFR 240.19b–4(f)(6). In addition, Rule 

19b4(f)(6)(iii) requires the Exchange to give the 

Commission written notice of the Exchange’s intent 

to file the proposed rule change along with a brief 

description and text of the proposed rule change, 

or such shorted time as designated by the 

Commission. The Exchange provided a copy of this 

rule filing to the Commission at least five business 

days prior to the date of this filing. 

7See Securities and Exchange Act Release No. 

61696 (March 12, 2010), 75 FR 13174 (March 18, 

2010) (approving SR–CBOE 2010–005). 8 17 CFR 200.30–3(a)(12). 

just and equitable principles of trade, 

and to remove impediments to and 

perfect the mechanism for a free and 

open market and a national market 

system, and in general, to protect 

investors and the public interest. In 

particular, the proposal will lessen 

investor confusion by having strike 

price intervals and trading hours 

established prior to the commencement 

of trading in options on Index-Linked 

Securities. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The proposed rule change does not 

impose any burden on competition that 

is not necessary or appropriate in 

furtherance of the purposes of the Act. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

The Exchange has not solicited, and 

does not intend to solicit, comments on 

this proposed rule change. The 

Exchange has not received any 

unsolicited written comments from 

members or other interested parties. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing proposed rule 

change does not: (i) Significantly affect 

the protection of investors or the public 

interest; (ii) impose any significant 

burden on competition; and (iii) become 

operative for 30 days after the date of 

the filing, or such shorter time as the 

Commission may designate, it has 

become effective pursuant to Section 

19(b)(3)(A) of the Act 5 and Rule 19b– 

4(f)(6) thereunder.6

The Exchange believes the proposed 

rule change is non-controversial in that 

it is similar to a Chicago Board Options 

Exchange rule change recently approved 

by the Commission.7 Further, the 

Exchange believes the proposed rule 

change may eliminate confusion for 

investors by establishing strike price 

intervals and trading hours for options 

on Index-Linked Securities prior to the 

commencement of trading. The 

Exchange also believes that the 

proposed rule change does not raise any 

new, unique or substantive issues, and 

is beneficial for competitive purposes 

and to promote a free and open market 

for the benefit of investors. 

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission may summarily abrogate 

such rule change if it appears to the 

Commission that such action is 

necessary or appropriate in the public 

interest, for the protection of investors, 

or otherwise in furtherance of the 

purposes of the Act. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s Internet 

comment form (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an e-mail to rulecomments@sec.gov. Please include File 

Number SR–ISE–2010–33 on the subject 

line. 

Paper Comments 

• Send paper comments in triplicate 

to Elizabeth M. Murphy, Secretary, 

Securities and Exchange Commission, 

100 F Street, NE., Washington, DC 

20549–1090. 

All submissions should refer to File 

Number SR–ISE–2010–33. This file 

number should be included on the 

subject line if e-mail is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

Internet Web site (http://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for Web site viewing and 

printing in the Commission’s Public 

Reference Room, 100 F Street, NE., 

Washington, DC 20549, on official 

business days between the hours of 10 

a.m. and 3 p.m. Copies of the filing also 

will be available for inspection and 

copying at the principal office of the 

Exchange. All comments received will 

be posted without change; the 

Commission does not edit personal 

identifying information from 

submissions. You should submit only 

information that you wish to make 

available publicly. All submissions 

should refer to File Number SR–ISE– 

2010–33 and should be submitted on or 

before May 25, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.8

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2010–10300 Filed 5–3–10; 8:45 am] 

BILLING CODE 8011–01–P 

SOCIAL SECURITY ADMINISTRATION 

[Docket No. SSA–2010–0018] 

Occupational Information System 

AGENCY: Social Security Administration 

(SSA). 

ACTION: Request for comments. 

SUMMARY: We are requesting comments 

on the recommendations submitted to 

us by the Occupational Information 

Development Advisory Panel (Panel) in 

its report entitled ‘‘Content Model and 

Classification Recommendations for the 

Social Security Administration 

Occupational Information System, 

September 2009.’’ The complete Panel 

report (including appendices) is 

available online at: http:// 

www.socialsecurity.gov/oidap/ 

Documents/ 

FinalReportRecommendations.pdf. 

DATES: To ensure that we receive your 

feedback in a timely manner for 

consideration as the project develops, 

please submit your comments no later 

than June 30, 2010. 

ADDRESSES: You may submit comments 

by any one of three methods—Internet, 

fax, or mail. Do not submit the same 

comments multiple times or by more 

than one method. Regardless of which 

method you choose, please state that 

your comments refer to Docket No. 

SSA–2010–0018 so that we may 

associate your comments with the 

correct document. 

Caution: You should be careful to 

include in your comments only 

information that you wish to make 

publicly available. We strongly urge you 

not to include in your comments any 

personal information, such as Social 

Security numbers or medical 

information. 

1. Internet: We strongly recommend 

that you submit your comments via the 

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